I am sure you have heard that you may earn huge amounts of money in Forex market... haven't you? However, you probably haven't heard that it's only few people that actually earn these huge amounts...
Well. The truth is: just 1% of players make money here (literally, one percent)! All the rest, so 99%: loses. The reality of Forex market is brutal. One person has to lose, so the other may earn. There is no discussion here, that's how it is.
Forex is used by professionals: speculators with large amounts of money who are able to shake the market, because they've got billions of dollars in their wallets. Large investment companies, individual investors and brokers. It's too bad that this market is also available for little players and you may start playing even with few hundreds of dollars. Unfortunately, it's the easiest to clear the accounts of these Forex novices, sometimes to zero, in the matter of seconds. As long as you come across a better player than you, and you can be sure that they are there, you would lose.
What is traded in Forex?
- Forex, it is mainly currency trade. Traditional currencies: EUR, USD, GBP (you'll be able to find currencies from most probably every country in the world)
- Indexes, CFD to shares (stocks)
- Gold, oil, fuels, precious metals
What do you need to have to play in Forex?
In theory: only a Broker, to be able to open your account. And also money for the start.
In practice: without knowledge and skills of technical analysis, macro analysis, indexes and many others - only finding a broker and money, you are bound to lose. Forex offers many tempting tools, among others, there is so called Leverage, often used to earn more and which... because of human's greed, becomes a nail in the coffin.
Where to learn Forex trading from?
YouTube, training, courses, workshops, books - there is a lot of knowledge out there, but it won't always make you a millionaire.
Why does people push to play Forex?
It's because they wish they are quickly going to become rich. Many people lose their life savings on it and only few are able to win, often paying with all their nerves for it.
Is it possible to earn with Forex automated systems?
Personally, I don't know any automated systems for Forex which always bring profits. Up until now, we have tested around 5 bots for Forex and we lost with every single one. All of them promised to bring millions. So be careful!!!
How much do you need to have to start in Forex?
In theory: $100. In practice: If you have under $1000, it is not worth it.
Is there any earning guarantee in Forex?
Nobody can give you that guarantee, and if they do, promising miracles - then RUN!
Before you decide to put you money into Forex Market:
- Think about it 10 times. Everyone believes that 'I am definitely going to earn', but 99% loses.
Start learning Forex and trading from the materials available on the Internet and from workshops.
- Do not put 100% trust in trading signals, strategies, Forex bots and miracle programs that supposedly earn big bucks in Forex.
- Never put all your eggs in one basket.
- Learn to accept the risk and possible losses.
Choose a broker who doesn't charge a lot and who is not going to rip you off!
Important: I am not an investment advisor!